Lam Research (NASDAQ:LRCX) Stock Price Up 1.4% Following Dividend Announcement

Shares of Lam Research Co. (NASDAQ:LRCX) shot up 1.4% during mid-day trading on Thursday following a dividend announcement from the company. The company traded as high as $78.23 and last traded at $77.82. 1,780,287 shares were traded during mid-day trading, a decline of 84% from the average session volume of 11,236,671 shares. The stock had previously closed at $76.78.

The newly announced dividend which will be paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.16%. Lam Research’s dividend payout ratio is 29.74%.

Analysts Set New Price Targets

A number of research firms have issued reports on LRCX. Deutsche Bank Aktiengesellschaft cut their target price on shares of Lam Research from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. TD Cowen increased their price objective on Lam Research from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. BNP Paribas upgraded Lam Research to a “hold” rating in a research note on Thursday, October 24th. Wells Fargo & Company cut their price target on Lam Research from $88.00 to $85.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. Finally, Citigroup lowered their price target on Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a research note on Monday, September 16th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.03.

Lam Research Price Performance

The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53. The stock has a market cap of $101.98 billion, a price-to-earnings ratio of 25.60, a price-to-earnings-growth ratio of 1.18 and a beta of 1.48. The stock has a fifty day simple moving average of $77.73 and a 200-day simple moving average of $88.66.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.05. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The company had revenue of $4.17 billion for the quarter, compared to the consensus estimate of $4.06 billion. During the same quarter in the previous year, the firm posted $6.85 EPS. The business’s revenue was up 19.7% compared to the same quarter last year. As a group, equities research analysts expect that Lam Research Co. will post 3.52 EPS for the current year.

Insider Buying and Selling at Lam Research

In other news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total transaction of $528,928.97. Following the sale, the chief accounting officer now directly owns 4,267 shares in the company, valued at approximately $3,488,315.17. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Lam Research

Institutional investors have recently added to or reduced their stakes in the stock. CarsonAllaria Wealth Management Ltd. bought a new stake in Lam Research in the second quarter valued at $32,000. RFP Financial Group LLC grew its holdings in shares of Lam Research by 52.2% in the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 12 shares during the last quarter. Hobbs Group Advisors LLC acquired a new stake in shares of Lam Research during the 2nd quarter worth about $40,000. Country Trust Bank bought a new position in Lam Research during the 2nd quarter valued at about $43,000. Finally, MFA Wealth Advisors LLC bought a new stake in Lam Research during the second quarter worth about $45,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Lam Research Company Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.